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SETH POLEN 213.595.5726 Direct S.SPOLEN@GMAIL.COM DRE SETH POLEN 213.595.5726 Direct [email protected] DRE 01133279 CONFIDENTIALITY AND DISCLAIMER All materials and information received or derived from KW COMMERCIAL its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters. Neither KW COMMERCIAL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the materials or information provided, derived, or SETH POLEN received. Materials and information from any source, whether written or verbal, that may be furnished for review DIRECTOR are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of 213.595.5726 Direct significance to such party. KW COMMERCIAL will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. [email protected] DRE 01133279 EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. SETHPOLEN.COM Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW COMMERCIAL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW COMMERCIAL does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by KW COMMERCIAL in compliance with all applicable fair housing and equal opportunity laws. ▪ LIST PRICE $1,495,000 ▪ ADDRESS 3406 E. Olympic Blvd ▪ CITY Los Angeles, CA 90023 ▪ SUBMARKET Boyle Heights ▪ PROPERTY TYPE Manufacturing (Light) ▪ CURRENT USE Art Studio ▪ BLDG. SF 3,900 ▪ LOT SF 4,190 ▪ YEAR BUILT 1953 ▪ ZONING LAM2 ▪ APN 5190-035-002 3406 E. OLYMPIC BLVD | LOS ANGELES, CA 90023 3 4 5 6 The individual offices and open floor plan totaling approximately 3,900 square feet allow for a buyer with an eye for design to bring their vision to life. With two restrooms, an abundance of storage and plenty of street parking, a Buyer’s vision can soon become reality. This fast-growing, fashion-district adjacent neighborhood is located just outside of Downtown Los Angeles near Olympic Boulevard and Spence Street. An Owner User will benefit from outstanding access to retail, entertainment and cultural venues within the immediate submarket as well as freeway access to nearby neighborhoods like Downtown LA, Silverlake, Echo Park and Hollywood. The Metro Gold Line now extends through Boyle Heights, providing light rail transit service in the Eastside. 7 Delivered vacant Bldg Area 3,900 SF Lot 4,190 SF Easy access to all Freeway 5,10,60 & 101 Close to Arts and Fashion District Roll-up drive in (10'9"w x 10'9”h) Mini Splits and Partial HVAC Ceiling Height 13Ft Clear; Newer Cool Roof Renovated Building (power supply 100/200a/120-240v 3p3w) Great Clear Span Space (Bow Truss Roof) Brick Masonry Construction Within Qualified Opportunity Zone Art Or Architectural Studio, Film/Photo; Set Design, TV/Movie East Los Angeles State Enterprise Zone Production, Photography Studio 8 9 ADDRESS BUILT GROSS SF LOT SIZE PROPERTY TYPE SALE DATE PRICE PRICE/SF PRICE/LAND SF ZONING 1 614 E 7th St 1928 1,404 3,049 Class C Warehouse 11/18/2020 $650,000 $463 $213.18 C1 Los Angeles, CA 90021 2 2027 E 7th St 1951 4,880 11,761 Class C 7/20/2020 $2,400,000 $492 $204.06 LAM3 Los Angeles, CA 90021 Manufacturing 3 720 10th St 1981 2,520 5,271 Class C Warehouse 5/21/2020 $906,000 $360 $171.88 LAM2 Los Angeles, CA 90021 4 771 E 14th St 1981 4,020 6,098 Class C Warehouse 9/30/2020 $1,500,000 $373 $245.98 M2 Los Angeles, CA 90021 5 1437 E 15th St 2007 3,101 5,210 Class C Warehouse 2/13/2020 $1,275,000 $411 $244.72 M2 Los Angeles, CA 90021 6 651 Anderson St 1926 2,000 2,178 Class C Warehouse 9/27/2018 $775,000 $388 $355.83 M2-2 Los Angeles, CA 90023 7 748 Kohler St 1932 3,300 3,485 Class C Warehouse 9/22/2020 $1,175,000 $356 $337.16 LAM2 Los Angeles, CA 90021 8 1000 S San Pedro St 1923 4,895 5,227 Manufacturing On Market $2,500,000 $511 $478.29 LAM2 Los Angeles, CA 90015 9 534 Stanford 1961 2,700 3,485 Warehouse On Market $1,075,000 $398 $308.46 LAM2 Los Angeles, CA 90013 AVERAGES 3,202 5,085 $417 $284.40 S Subject Property 1953 3,900 4,190 Manufacturing - $1,495,000 $383 $356.80 LAM2 3406 E. Olympic Blvd Los Angeles, CA 90023 11 1 614 E 7th St 2 2027 E 7th St 3 720 10th St 4 771 E 14th St 5 1437 E 15th St 6 651 Anderson St 7 748 Kohler St 8 1000 S San Pedro St 9 534 Stanford 9 1 S 3406 E. Olympic Blvd 8 6 7 3 2 4 5 S 12 Address Built/Renov Building SF SF Leased Property Type Rent Lease Type 1941/2020 25,000 4,500 Flex $1.75 /SF/Mo MG 1 3364-3386 E Olympic Blvd 4,500 Flex $1.75 /SF/Mo NNN Los Angeles, CA 90023 3,500 Flex $1.75 /SF/Mo NNN 1942 11,848 3,931 Industrial $1.20 /SF/Mo IG 2 3436-3442 E 14th St Los Angeles, CA 90023 2003 7,225 3,612 Industrial $1.50 /SF/Mo IG 3 1320 S Boyle Ave Los Angeles, CA 90023 1957 2,400 3,500 Office $1.25 /SF/Mo - 4 2860 E Pico Blvd Los Angeles, CA 90023 AVERAGE $1.53 /SF/YR 3 4 1 S 2 13 Boyle Heights is a charming, historic, and walkable working class neighborhood of almost 100,000 residents just a few miles east of downtown Los Angeles. Located just across the river from the arts district, the neighborhood is in a highly dense area of Los Angeles with over 75% of residents being renters. Recently Boyle Heights has seen a lot of interests and is a place for residents looking to escape high rents elsewhere. Boyle Heights is undergoing a real estate boom and property values have trended upward. The community is undergoing a renaissance due to its proximity to Downtown and accessibility to public transportation. Future residents will benefit from outstanding access to retail, entertainment, and cultural venues within the immediate submarket as well as nearby neighborhoods like Downtown LA, Silverlake, Echo Park, and Hollywood. The Metro Gold Line now extends through Boyle Heights, providing light rail transit service in the Eastside. MEDIAN HH INCOME PROPERTY VALUE POPULATION $35,264 $395,500 93,476 14 Hyatt House Hotel Reaches its Fifth Floor at the USC Health Sciences Campus Mixed-Use Apartment Building Planned Near L.A. County + USC Medical Center 28 Affordable units and supportive housing above 1,000 SF of ground-floor retail space. SUBJECT PROPERTY 15 The Metro Gold Line now extends through Boyle Heights, providing light rail transit service in the Eastside. Four stations on the extension are in Boyle Heights: Pico/Aliso, Mariachi Plaza, Soto and Indiana. Immediately adjacent to or within close proximity of these stations are six sites that were acquired by Metro for station construction. 16 1 Mixed-Use Apartment Building Planned Near L.A. County + USC Medical Center: A vacant lot near L.A. County + USC Medical Center could yield a mixed-use development, per an application filed recently with the Los Angeles Department of City Planning. The project, slated for a roughly half-acre site at 1016-1030 N. State Street, calls for the construction of a multi-story building featuring 85 apartments -including an unspecified number of affordable units - and 6,554 square feet of ground- floor retail space. The applicant, listed as the Youssefian Family Trust, acquired the now-vacant site 1030 N. 1030Street N. State - in 2017 for approximately $1.57 million, according to city records. 1016 2 Hyatt House Hotel Reaches its Fifth Floor at the USC Health Sciences Campus: With a year of construction under its belt, Irvine-based developer Mayer Corp.
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